ARC is the largest pure-play Motney producer. It is primarily a natural gas company (around 61% of production) so the rising price of natural gas is no doubt fueling tailwinds in its stock price.
After many years of share dilution, the company looks to be in significant buyback mode here over the last 3-4 years and has actually bought back around 15% of its shares all while paying out a pretty health dividend, one that should be well covered by the expected cash flow generation especially with the rising price of crude and natural gas as of late.
I'd expect this to be like many other major oil/nat gas producers. Returning capital to shareholders is the priority and the company has done a very good job of this.
The company also has a very strong balance sheet. Strong debt to equity, interest coverage ratios, and overall it looks to be very well managed.
I personally do not invest in these options simply because I believe their returns are too cyclical over the long-term as they ultimately follow the ebbs and flows of crude and natural gas pricing, which has been anything but consistent.
But if you're looking to take advantage of expanding LNG demand and rising prices, I'd put ARC pretty close up there with one of my favorite players in Canadian Natural.